What kind of data does the Graham-Leach-Bliley Act (GLBA) aim to protect?

The Graham-Leach-Bliley Act (GLBA) is designed specifically to protect personal financial information held by financial institutions. This legislation mandates that institutions disclose their privacy practices and establish safeguards to protect customer account information. This includes any data that can identify an individual in relation to their financial accounts, such as account numbers, transactions, and other sensitive financial data. The focus of GLBA is on ensuring that consumers can trust that their financial information will not be misused or improperly disclosed.

In contrast, while health-related information is protected under HIPAA, corporate financial reports fall under different regulatory scrutiny, primarily governed by securities laws. Student educational records are handled under FERPA, which is also separate from the regulations applicable to financial privacy outlined in GLBA. Hence, customer account information stands out as the core focus of the Graham-Leach-Bliley Act.